The Third G20 Framework Working Group (FWG) meeting under India's G20 presidency is scheduled to take place in the port city of Kochi from June 13 to 14. Dr V Anantha Nageswaran, Chief Economic Adviser, Ministry of Finance, Government of India, and Tom Hemingway, Deputy Director, HM Treasury, United Kingdom, will jointly chair the meeting, a G20 release said.
More than 75 delegates from G20 member nations, invitee countries, and various international and regional organisations will participate in the two-day long meeting, it said. The G20 FWG focusses on global macroeconomic issues of current relevance, it said.
It further said: "As per the mandate received from G20 Finance Ministers and Central Bank Governors in February 2023, the group has been deliberating on the macroeconomic implications of food and energy insecurity, macroeconomic risks arising from climate change and transition policies and other risks to the global economy such as inflation, financial globalisation, and financial stability." In the upcoming meeting, detailed deliberations will be held on the current global economic outlook based on presentations from international organisations such as the International Monetary Fund (IMF) and World Bank, the release said. The membership will also deliberate on draft G20 reports on the macroeconomic implications of food and energy insecurity and on the macroeconomic impact of climate change and transition pathways, it said.
"The objective is to develop a shared understanding of the policy experiences of member countries in tackling macroeconomic implications of food and energy insecurity as well as climate change and transition pathways. They will also attempt to explore areas where global cooperation can help support the domestic efforts of countries," it further said. A G20 panel discussion on the topic of 'Financial Globalisation - Opportunities and Risks' will be held on the sidelines of this meeting, it said.
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"The panel will be moderated by Prof. Eswar Prasad of Cornell University and will have panellists of repute. The panel discussion is meant to develop a collective understanding among the G20 membership regarding the dynamics of macroeconomic policy challenges facing countries in the context of financial globalisation," the release said. On the margins of the meeting, the Reserve Bank of India will host a number of 'Jan Bhagidari' events to make G20 discussions more inclusive and people-centric, it said.
This includes a series of events on financial literacy, an awareness programme on the G20, a painting competition, slogan writing, and a note exchange mela among others targeted at the public, students and self-help groups, it added. It also said events have also been planned to provide an opportunity for the delegates to enjoy the captivating beauty of Kochi's natural beauty and cultural heritage.
"Visits have been planned to Dutch Palace, Paradesi Synagogue and St Francis Church. The delegates will also be provided with an experience of the vibrant culture and delectable cuisine of Kerala," it added. The Second G20 FWG meeting was held in Chennai from March 24 to 25 where 87 delegates from G20 member countries, invitees, and international organisations took part.
(Edited by : Keshav Singh Chundawat)
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